KUALA LUMPUR (June 12): RHB Retail Research said P.I.E. Industrial Bhd may move higher after it continued holding above the RM1.23 support.

In a trading stocks note today, the research house said yesterday’s close has sent the stock to its highest close in more than two weeks, thereby enhancing the positive sentiment.

“A bullish bias may appear above the RM1.30 level, with an exit set below the RM1.23 threshold.

“Towards the upside, the near-term resistance is at RM1.40. This is followed by the RM1.46 level,” it said.